Shares of energy companies fell ahead of weekend talks between the U.S. and Iran.
Oil futures declined 1.3% in New York to $96.57 a barrel even as Iran cast doubt on the viability of talks in Pakistan, scheduled to start Saturday. Iran is insisting Israel halts strikes on Lebanon before talks move forward. Vice President J.D. Vance warned Iran against "playing" U.S. negotiators.
French oil major TotalEnergies said a refinery complex jointly owned with the Saudi national oil company has been shut down after sustaining damage this week, the latest hit to crude production in the region as the Iran war continues to disrupt global energy supply.
Japan plans to release an additional 20 days' worth of oil reserves starting in early May, Prime Minister Sanae Takaichi said Friday as the government tries to stabilize energy prices amid volatility caused by war in the Middle East.
The volume of crude and condensate sitting on water in the Middle East Gulf remains little changed since the U.S. and Iran agreed to a two-week cease-fire, according to Kpler data.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-10-26 1702ET
